ACEN Corp. said Friday it executed a loan agreement and a credit facility agreement with Land Bank of the Philippines (LBP) for P8 billion and P9.5 billion, respectively.
“These new agreements reallocate the balance of an existing P20 billion facility with LBP signed on Nov. 29, 2023,” ACEN said.
In 2023, LBP approved a P20 billion loan to ACEN, the listed energy platform of the Ayala Group — in support of the government’s push to expand the country’s mix of renewable energy.
The loan will partially finance ACEN’s general corporate requirements and investments in renewable energy projects, which are aligned with the government’s target under the National Renewable Energy Program to increase the share of renewable energy in the country’s power generation mix to 35 percent by 2030.
Meanwhile, ACEN, through ACEN RES, will provide renewable energy to Siena College’s campuses in Quezon City and Taytay.
This underscores Siena College’s unwavering commitment to environmental stewardship and a sustainable future for its academic community. Guided by the Congregation of the Dominican Sisters of St. Catherine of Siena, Siena College, a network of Catholic academic institutions, is dedicated to nurturing the youth through high-quality education imbued with empathy for people and the planet.
ACEN has around 7 gigawatts of attributable renewable energy capacity spanning operational, under-construction and committed projects.
